What in the world do these acronyms mean?
more affordable. Under HAMP, servicers apply a uniform loan modification process to provide
eligible borrowers with affordable and sustainable monthly payments for their first lien mortgage
loans. Affordability is achieved through the application of interest rate reduction, term extension,
principal forbearance and principal forgiveness.
To download the HAMP brochure, click here.
To download the HAFA information, click here.